Finance Minister Dr. Prakash Sharan Mahat has said the budget passed by the sovereign parliament could not be reduced. Organizing a press conference at the Ministry today, Finance Minister Mahat refuted the news that the budget of the current fiscal year was cut and made it clear that the Ministry could not slash the budget passed by the parliament.

He mentioned that there should not be any confusion among the people, adding that the budget was only evaluated mid-term. Stating that progress in revenue and budget implementation was reviewed, the Finance Minister said revenue collection increased by 10 percent as compared to the previous fiscal year. More revenue would be collected and spent as per the rule, he said, adding that income and expenditure were estimated based on revenue collected.

The government had allocated a budget of Rs 1.751 trillion for the current fiscal year. A budget ceiling of Rs 1.8 trillion has been set for the coming fiscal year 2024/25, he informed.